Fossil Group (NASDAQ:FOSL) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Fossil Group, Inc. (NASDAQ:FOSL)’s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.71 and traded as high as $6.20. Fossil Group shares last traded at $6.16, with a volume of 477,490 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Northland Securities set a $8.00 price target on shares of Fossil Group in a research note on Thursday, August 13th. Craig Hallum started coverage on shares of Fossil Group in a research note on Thursday, September 10th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fossil Group presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Fossil Group Trading Up 3.5%

The stock has a 50-day moving average of $5.35 and a 200 day moving average of $4.73. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. The stock has a market cap of $402.15 million, a PE ratio of -5.31 and a beta of 1.61.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The company had revenue of $209.69 million during the quarter, compared to analyst estimates of $199.33 million. As a group, sell-side analysts anticipate that Fossil Group, Inc. will post -0.04 earnings per share for the current year.

Insider Activity

In other Fossil Group news, Director Pamela J. Edwards bought 7,208 shares of Fossil Group stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $5.58 per share, with a total value of $40,220.64. Following the completion of the acquisition, the director directly owned 50,251 shares in the company, valued at approximately $280,400.58. This trade represents a 16.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fossil Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new position in shares of Fossil Group during the 2nd quarter valued at about $22,791,230. BlackRock Inc. purchased a new stake in shares of Fossil Group in the second quarter worth about $15,263,000. Miller Value Partners LLC purchased a new stake in shares of Fossil Group in the second quarter worth about $8,874,000. Fund 1 Investments LLC acquired a new stake in Fossil Group during the second quarter worth about $2,223,000. Finally, 683 Capital Management LLC acquired a new stake in Fossil Group during the fourth quarter worth about $970,000. 61.14% of the stock is owned by institutional investors and hedge funds.

About Fossil Group

Fossil Group, Inc is a global design, marketing and distribution company focused on fashion accessories. The company is best known for its watches, including products sold under the Fossil brand and licensed brands, and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group sells products through a combination of wholesale customers, company-operated retail stores, e-commerce websites and other direct-to-consumer channels. Its products are distributed across North America, Europe, Asia and other international markets, serving consumers through department stores, specialty retailers and digital platforms.

Founded in 1984 and headquartered in Richardson, Texas, Fossil Group has expanded from its original watch business into a broader accessories company.